DUBAI (Reuters) - Borse Dubai said on Sunday it would
consider selling a stake in the London Stock Exchange Group
<LSE.L> to Qatar, but had not received any approaches and was
unlikely to sell any stake in the short term.

Borse Dubai and the Nasdaq Stock Market <NDAQ.O> should
close a $4.9 billion deal this month to buy Nordic and Baltic
stock exchange operator OMX <OMX.ST>. Under the tie-up, Borse
Dubai gets Nasdaq's 28 percent stake in the London Stock
Exchange (LSE).

"If the Qatari government wishes to strike a deal in the
future then it would be subject to negotiation," Borse Dubai
Chairman Essa Kazim told reporters.

ADVERTISEMENT

Any stake sale would "absolutely not" occur in the short
term, added Soud Ba'alawy, the firm's deputy chairman.

The QIA planned to use its stake in the LSE to develop its
own capital markets, a person familiar with the fund told
Reuters last month.

QIA subsidiary Qatar Holding and Borse Dubai were in talks
for Qatar to exchange its 10 percent stake in OMX for at least
part of Dubai's stake in the LSE, people familiar with the
matter said in December.

Borse Dubai had not agreed on any deal "whatsoever" with
Qatar on selling its stake when Qatar sold its entire OMX
holding to Borse Dubai earlier this month, Kazim said. Borse
Dubai owns 97.6 percent of OMX.

FINANCING PLANS

Borse Dubai planned to raise $4.2 billion in a syndicated
loan to finance the acquisition, Mukhtar Hussain, global head
of principal investments at HSBC, one of the bank's arranging
the deal, told reporters.

Syndication would start this week in Hong Kong, London and
Dubai and was likely to conclude by February 27, Hussain said.

Barclays Plc, Citigroup, Goldman Sachs, Bank of
Tokyo-Mitsubishi and Emirates NBD are also mandated lead
arrangers for the loan, he said, adding he was confident it
would be fully subscribed.

Under the OMX deal, Nasdaq agreed to take a 33 percent
stake in the Dubai International Financial Exchange (DIFX), set
up by the government of Dubai in 2005 to operate according to
international regulatory standards.

The exchange, to be re-branded as Nasdaq DIFX, planned to
expand in the Middle East, Africa and Asia, as it seeks to tap
into economic and population growth in emerging markets,
Ba'alawy said.

First, however, the exchange would focus on building
healthy pipeline of new listings of securities this year, Borse
Dubai Chief Executive Per Larsson said, declining to be more
specific.

U.S.-based NanoDynamics pulled out of a planned listing in
Dubai, the DIFX said on Friday.

Shares of DP World <DPW.DI>, the first firm to list shares
exclusively on the exchange, have tumbled more than 30 percent
since they debuted in November. Since then, global stock
markets have tumbled on concerns about a global credit crisis
and a possible U.S. recession.